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Tata Group wins bid for Air India

Commerce and Industry Minister Piyush Goyal on Saturday said the government announced Air India as the final winner for Air India disinvestment bid.

New, Delhi, India, October 8 : “I have been in Dubai since. day before and I don’t think there is any such decision that has happened at all. Of course, bids were invited. And that is assessed by the officers and in due course of time, there is a whole well laid down process through which the final winner will select,” he told reporters. He was replying to a question about media reports stating Tatas have emerged as the top bidder for the takeover of debt-laden Air India.

Tuhin Kanta Pandey, Secretary to Department of Investment and Public Asset Management (DIPAM) — the government department responsible for privatization — had said in a tweet on Friday that the Centre has so far not approved any financial bid for Air India.

“Media reports indicating approval of financial bids by Government of India in the AI disinvestment case are incorrect. Media will be informed of the Government’s decision as and when it is taken,” he tweeted.

Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932. It was called Tata Airlines then.

In 1946, the aviation division of Tata Sons was listed as Air India and in 1948, Air India International was launched with flights to Europe.

Tata Sons wins bid for acquiring national carrier Air India at Rs 18,000 cr

Tata Sons has won the bid for acquiring national carrier Air India for Rs 18,000 crore, the government said on Friday. The transaction will be completed by December 2021, informed Department of Investment and Public Asset Management secretary Tuhin Kanta Pandey. The bid was filed by Tata Sons wholly-owned subsidiary Talace Pvt Ltd.
Tata Sons were up against Spicejet promoter Ajay Singh-led consortium who had bid Rs 15,100 crore.
The total debt of Air India as of August 31 stands at Rs 61,562 crore.
Air India’s reserve price was fixed after the bids were called to ensure that the bidders do not get to know about the reserve price prior to their bidding. It ensured utmost confidentiality when it comes to the reserve price.
The government will divest its 100 per cent stake in Air India, Air India Express and 50 per cent stake in ground handling company AISATS.

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